Matson (NYSE:MATX) Now Covered by Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Matson (NYSE:MATX) in a research report sent to investors on Monday, MarketBeat reports. The brokerage issued a buy rating and a $125.00 price objective on the shipping company’s stock.

A number of other research analysts have also issued reports on MATX. Stifel Nicolaus boosted their price target on Matson from $150.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Stephens increased their price target on Matson from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $153.33.

Matson Stock Performance

Shares of MATX stock opened at $106.65 on Monday. The firm has a 50-day moving average of $121.70 and a 200-day moving average of $136.30. The company has a market cap of $3.50 billion, a P/E ratio of 8.87 and a beta of 1.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. Matson has a one year low of $92.90 and a one year high of $169.12.

Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, February 25th. The shipping company reported $3.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.20 by $0.60. Matson had a return on equity of 16.89% and a net margin of 12.37%. The company had revenue of $890.30 million during the quarter, compared to the consensus estimate of $851.78 million. Equities research analysts forecast that Matson will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Thursday, May 8th. Matson’s dividend payout ratio is currently 9.69%.

Insider Transactions at Matson

In other Matson news, SVP Richard S. Kinney sold 1,997 shares of Matson stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $137.11, for a total transaction of $273,808.67. Following the sale, the senior vice president now owns 8,425 shares of the company’s stock, valued at $1,155,151.75. The trade was a 19.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John P. Lauer sold 7,985 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the transaction, the executive vice president now owns 25,192 shares of the company’s stock, valued at approximately $3,394,118.16. The trade was a 24.07 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.05% of the company’s stock.

Institutional Investors Weigh In On Matson

A number of hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. increased its position in shares of Matson by 67.7% in the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company’s stock worth $29,000 after purchasing an additional 86 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Matson in the 4th quarter worth approximately $30,000. Ameriflex Group Inc. purchased a new stake in Matson in the fourth quarter worth approximately $36,000. IFP Advisors Inc bought a new stake in shares of Matson during the fourth quarter valued at approximately $40,000. Finally, Covestor Ltd grew its position in Matson by 16.3% in the 4th quarter. Covestor Ltd now owns 586 shares of the shipping company’s stock valued at $79,000 after acquiring an additional 82 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

About Matson

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.